Parthenon LLC Grows Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Parthenon LLC raised its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 73,086 shares of the company’s stock after acquiring an additional 1,174 shares during the period. Churchill Downs makes up about 1.2% of Parthenon LLC’s holdings, making the stock its 26th largest holding. Parthenon LLC’s holdings in Churchill Downs were worth $9,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Creative Planning lifted its holdings in Churchill Downs by 15.4% during the third quarter. Creative Planning now owns 4,655 shares of the company’s stock valued at $629,000 after purchasing an additional 620 shares during the last quarter. Eastern Bank bought a new position in Churchill Downs in the 3rd quarter worth approximately $241,000. Community Trust & Investment Co. grew its stake in Churchill Downs by 0.6% in the 3rd quarter. Community Trust & Investment Co. now owns 129,629 shares of the company’s stock valued at $17,527,000 after buying an additional 745 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Churchill Downs during the 3rd quarter valued at $236,000. Finally, Argent Capital Management LLC lifted its position in shares of Churchill Downs by 2.6% during the third quarter. Argent Capital Management LLC now owns 19,542 shares of the company’s stock worth $2,642,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Truist Financial reiterated a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Wells Fargo & Company cut their price objective on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Mizuho reduced their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.13.

Churchill Downs Stock Down 1.7 %

Shares of NASDAQ:CHDN opened at $119.54 on Thursday. The firm has a market capitalization of $8.79 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 3.02 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The firm has a fifty day moving average of $127.68 and a 200 day moving average of $134.78.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. As a group, research analysts anticipate that Churchill Downs Incorporated will post 5.99 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were paid a dividend of $0.409 per share. The ex-dividend date was Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is 7.47%.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.